Encoda, a patent technology developer, acquired Tampa, Fla.-based MedCo Data's revenue cycle management division, which services billing needs of dermatologists and single specialty groups throughout the U.S.
Through the acquisition, the parties aim to enhance revenue cycle efficiency for medical groups and billing service providers by utilizing Encoda's BackOffice software to facilitate the claims reimbursement process.
"This acquisition is a merger of two companies that share a common mission to significantly improve the financial health of medical practices nationwide," Michael Kallish, Encoda's CEO stated.
Encoda will move its national headquarters to Tampa, Fla., and MedCo Data will continue to run its managed IT services and digital marketing division separately.